MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, June 23, 2011 Merk Bets Against the Dollar One PM is betting on the dollar to keep weakening for some time. Axel Merk, PM of the $563.4 million Merk Hard Currency Fund [see profile] believes the Federal Reserve wants a weaker dollar and low interest rates to spur economic growth, reports Daisy Maxey in The Wall Street Journal Fund Track column . Merk reportedly favors the euro, Swedish krona, Australian dollar and Canadian dollar, and has also recently added some exposure to the yen. Year-to-date, the fund is up 16 percent in the 12 months through June 21, while the average currency fund is up 4.6 percent, according to Morningstar data. Merk told the pub that the key difference between the European Central Bank and the Fed is that the former has "a far more flexible approach to monetary policy." Others quoted in the article are Nadia Papagiannis, alternative investment strategist at Morningstar and Craig Wear, a fee-based advisor at Game Plan Advisors Inc. Printed from: MFWire.com/story.asp?s=37145 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |